Three-Unit Storefront Retail
For Sale
$1,795,000
5613 S San Vicente Blvd, Los Angeles, CA 90019
Three-unit storefront retail is 100% occupied, with an on-site billboard on a month-to-month lease.
Property Size4,600 SF
Price / SF$390.22
Days on Market50
Property Features for 5613 S San Vicente Blvd
General Information
Standard status
Active
Size
4,600 SF
Property subtype
Shopping Strip
Amenities
4,600 SF building divided into three units averaging approximately 1,533 SF, ideal for retail, creative, or service-oriented users.
Ability to occupy up to two units in the near term while offsetting expenses through in-place income.
Ownership to execute a sale-leaseback with flexibility to remain or relocate within the building, allowing a buyer to structure occupancy.
Two tenants on short-term leases paying $2,000/month ($1.60/SF) and $2,500/month ($2.00/SF), providing near-term repositioning upside.
Current below market rent create a clear upside opportunity in a supply-constrained Miracle Mile submarket.
Building Details
Building Size
4,600 SF
Year Built
1925
Listing Agency:
Marcus & Millichap - Encino
Listed By:
Brandon Michaels · License #License(s): CA: 01434685
(818) 212-2794
Source:
Marcusmillichap
Added: Jul 21
Changed: Sep 8
Last Checked: Sep 2 at 1:07PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Marcus & Millichap - Encino
Investment Insights
Based on property information with market context.
5613 San Vicente Boulevard is a 4,600 SF, three-unit storefront retail asset on approximately 0.11 acres at the northeast corner of San Vicente Boulevard and Carmona Avenue. The property is currently 100% occupied by a curated mix of local operators, including an artist studio, a boutique clothing retailer, and a drama studio operated by ownership. At the close of escrow, ownership intends to execute a sale-leaseback with flexibility to remain in place or relocate within the building.
Two of the units are on short-term leases, paying $2,000/month and $2,500/month, respectively, under modified gross terms where tenants are responsible for utilities and trash. In addition, the property includes an on-site billboard generating $600/month on a month-to-month lease.
Located along San Vicente Boulevard in Los Angeles’ Miracle Mile submarket, the asset benefits from traffic counts exceeding 30,000 vehicles per day and is approximately 0.6 miles north of Wilshire Boulevard’s Miracle Mile corridor. Nearby cultural and visitor destinations include LACMA, the Academy Museum of Motion Pictures, the Petersen Automotive Museum, and the La Brea Tar Pits. The property also sits near the Metro D Line (Purple Line) Extension, providing direct connectivity to Downtown Los Angeles, Beverly Hills, and Westwood.
Two of the units are on short-term leases, paying $2,000/month and $2,500/month, respectively, under modified gross terms where tenants are responsible for utilities and trash. In addition, the property includes an on-site billboard generating $600/month on a month-to-month lease.
Located along San Vicente Boulevard in Los Angeles’ Miracle Mile submarket, the asset benefits from traffic counts exceeding 30,000 vehicles per day and is approximately 0.6 miles north of Wilshire Boulevard’s Miracle Mile corridor. Nearby cultural and visitor destinations include LACMA, the Academy Museum of Motion Pictures, the Petersen Automotive Museum, and the La Brea Tar Pits. The property also sits near the Metro D Line (Purple Line) Extension, providing direct connectivity to Downtown Los Angeles, Beverly Hills, and Westwood.
Key Highlights
- 3‑unit storefront retail asset totaling 4,600 SF on 0.11 acres at the northeast corner of San Vicente Blvd and Carmona Ave
- Currently 100% occupied with local operators including an artist studio, boutique clothing retailer, and a drama studio
- Two tenants on short‑term modified gross leases paying $2,000/month ($1.60/SF) and $2,500/month ($2.00/SF); tenants pay utilities and trash
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$106,753
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
5.95%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,135,060
$2.1M
Cap Rate 7%
$1,525,043
$1.5M
Cap Rate 9%
$1,186,144
$1.2M
Market Conditions
NOI Build-Up for 4,600 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$170.0K $36.96/SF
− Vacancy
−$17.5K −$3.81/SF
EGI
$152.5K $33.15/SF
− OpEx
−$45.8K −$9.95/SF
NOI
$106.8K $23.21/SF
Area
Los Angeles, CA
Vacancy
10.30%
Lease Rate
$36.96 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,135,060
Cap Rate 7%
$1,525,043
Cap Rate 9%
$1,186,144
Alternative Uses
Best Use
Retail
$1.53M
$1.33M – $1.78M
NOI $106,753 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Multifamily LT 5
$93.19M
$81.54M – $108.73M
NOI $6,523,527 @ 7.0% cap · market cap 363.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,315
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 90019, CA
62,002
Population
26,203
Households
2.4
Avg Household Size
38
Median Age
39%
College-Educated
80%
High-School Grad
3.9 sq mi
ZIP Area
15,898
Density / Sq Mi
$71,395
Median Household Income
$40,316
Median Earnings
$1,782
Median Rent
$1,178,100
Median Home Value
Market
Vacancy Rate% for Retail in Los Angeles, CA
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Storefront property - Three-unit storefront retail is 100% occupied, with an on-site billboard on a month-to-month lease.
Where is this storefront property located?
The property is located at 5613 S San Vicente Blvd Los Angeles, CA.
What is the asking price?
The asking price for this property is $1,795,000.
What are key features of this property?
This property features: 3‑unit storefront retail asset totaling 4,600 SF on 0.11 acres at the northeast corner of San Vicente Blvd and Carmona Ave; Currently 100% occupied with local operators including an artist studio, boutique clothing retailer, and a drama studio; Two tenants on short‑term modified gross leases paying $2,000/month ($1.60/SF) and $2,500/month ($2.00/SF); tenants pay utilities and trash
